Eynesbury, the art deco Edgecliff apartment block listed for the first time since 1938
The Babington-Lees family, seeking to capitalise on strong market conditions, have listed a block of 11 units in Edgelicff that they have owned for nearly 80 years.
The art deco building cost £29,000 in 1938, three years after it was built.
The property is expected to fetch about $20 million when expressions of interest close November 30 through CBRE and Ray White.
Eynesbury, at 22 Albert Street, Edgecliff, has a rental return of $690,000 a year.
It includes 10 three-bedroom units each of about 164 square metres each.
There is one 400-square-metre penthouse, with harbour views.
The neighbouring house sold this week when investment banker Scott Malcolm and his wife Jane Taylor secured $15 million for their trophy home Carmel.
The building was on one title, on a 1296 square metre parcel, which could potentially be converted to strata for onsale.
